Catastrophic health insurance plans have low monthly premiums and very high deductibles. They may be an affordable way to protect yourself from worst-case scenarios, like getting seriously sick or injured. But you pay most routine medical expenses yourself.
Only the following people are eligible:
- People under 30
- People of any age with a hardship exemption or affordability exemption (based on Nevada Health Link or job-based insurance being unaffordable)
How much Catastrophic plans cost:
- Monthly premiums are usually low, but you can't use a premium tax credit to reduce your cost. If you qualify for a premium tax credit based on your income, a Bronze or Silver plan is likely to be a better value.
- Deductibles - the amount you have to pay yourself for most services before the plan starts to pay anything - are very high. For 2020 the deductible for all Catastrophic plans is at least $8,150. After you spend that much, your insurance company pays for all covered services, with no co-payment or co-insurance.
What Catastrophic plans cover:
- Catastrophic plans cover the same essential health benefits as other Nevada Health Link plans.
- Like other plans, Catastrophic plans cover certain preventive services at no cost.
- They also cover at least three primary care visits per year before you've met your deductible.